- Mellanox Technologies (NASDAQ:MLNX) +5.8% after-hours as Starboard Value discloses taking a 10.7% stake in the company and urges MLNX to improve its margins and explore a potential sale.
- Starboard says MLNX is spending too much on R&D and other corporate expenses to sufficiently grow revenue, sacrificing margins compared with peers, and wants the company to improve its operations and potentially explore a deal to boost the stock.
- Marvell Technology (NASDAQ:MRVL) recently approached MLNX about a potential deal but was rebuffed, Starboard says, a response that convinced the activist investor that MLNX was hostile to potential deals, WSJ reports.